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U.S. Oil and Gas Production Climbs Despite Extreme Oil Price Volatility

U.S. oil and gas production increased among firms surveyed by the Dallas Fed in Q3, but crude’s swing from $67 to $107 per barrel in less than three months has left producers struggling to decide where prices are headed. Oil and gas output rose during the quarter among exploration and production firms surveyed by the Dallas Fed, which samples energy companies located or headquartered in Texas, southern New Mexico and northern Louisiana. WTI averaged a closing price of around $86 per barrel during the quarter, but traded as low as $67 in early…